Monaco Asset Management SAM Boosts Stake in The Chemours Company $CC

Monaco Asset Management SAM raised its position in The Chemours Company (NYSE:CC) by 2,240.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 702,200 shares of the specialty chemicals company’s stock after purchasing an additional 672,200 shares during the period. Chemours makes up 1.4% of Monaco Asset Management SAM’s portfolio, making the stock its 15th biggest position. Monaco Asset Management SAM’s holdings in Chemours were worth $8,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CC. Cooper Creek Partners Management LLC purchased a new stake in Chemours in the 3rd quarter worth about $63,103,000. Scopia Capital Management LP raised its position in Chemours by 71.7% in the 2nd quarter. Scopia Capital Management LP now owns 3,355,261 shares of the specialty chemicals company’s stock worth $38,418,000 after purchasing an additional 1,401,539 shares during the period. State Street Corp raised its position in Chemours by 22.7% in the 2nd quarter. State Street Corp now owns 6,114,328 shares of the specialty chemicals company’s stock worth $70,009,000 after purchasing an additional 1,131,682 shares during the period. Wolf Hill Capital Management LP purchased a new stake in Chemours in the 3rd quarter worth about $17,025,000. Finally, Moore Capital Management LP raised its position in Chemours by 273.5% in the 2nd quarter. Moore Capital Management LP now owns 1,279,340 shares of the specialty chemicals company’s stock worth $14,648,000 after purchasing an additional 936,787 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CC shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 target price on shares of Chemours in a research report on Monday, February 23rd. Truist Financial raised their target price on shares of Chemours from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chemours in a research report on Monday, April 20th. Royal Bank Of Canada raised their target price on shares of Chemours from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group raised their target price on shares of Chemours from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chemours currently has an average rating of “Hold” and a consensus target price of $24.60.

Chemours Price Performance

Shares of CC opened at $22.17 on Monday. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -8.40 and a beta of 1.40. The Chemours Company has a twelve month low of $9.13 and a twelve month high of $28.67. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 18.98. The company has a 50 day moving average of $22.83 and a two-hundred day moving average of $17.72.

Chemours (NYSE:CC) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.10. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.40 billion. Chemours had a negative net margin of 6.82% and a positive return on equity of 52.49%. Chemours’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.13 earnings per share. As a group, analysts predict that The Chemours Company will post 1.27 earnings per share for the current fiscal year.

Chemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Sunday, May 17th will be paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, May 15th. Chemours’s dividend payout ratio (DPR) is -13.26%.

Chemours Company Profile

Chemours Company, established in 2015 as a spin-off from E. I. du Pont de Nemours and Company, is a global chemistry organization headquartered in Wilmington, Delaware. Since its formation, Chemours has focused on delivering performance chemicals that help customers lower their carbon footprint, increase energy efficiency and conserve water. The company operates with a commitment to safety, environmental stewardship and innovation.

Chemours’ principal business activities are organized into three core segments.